5 Crypto Predictions in 2022 That May Never Come True

The cryptocurrency market boomed in 2021 as Bitcoin and other top cryptocurrencies hit new highs. The high hopes from the top cryptocurrencies led market participants and analysts to predict several positive results, most of which would not stand the test of time.

When the Bitcoin price hit new records in November 2021, the global crypto market capitalization rose to $3 trillion. The hopium or high hopes of the asset class led to a retail frenzy that came along with bullish market predictions from investors, analysts and well-known traders.

However, 2022 had something else in store for crypto investors. Macroeconomic uncertainty, inflation and the Fed’s interest rate hikes did not spare the rather volatile crypto market. The epic price pullback suffered by most cryptocurrencies has shattered the bullish predictions made in 2021.

Here are some predictions about 2022 that may never come true:

Bitcoin (BTC) at $100K

Back in the 3rd and 4th quarter of 2022, when the Bitcoin price reached higher heights, finally charting the $69,000 all-time high, quite a few bullish price predictions were made for the end of 2022. Some predictions placed BTC’s price at $100K and up and with $162K.

With the Bitcoin price hovering below the $20,000 mark in Q4 2022, the bullish expectations would not see the light of day. In 2021, Plan B’s Stock to Flow (S2F) model predicted exceptionally high prices – as much as $100K by 2022 and $1 million by 2025 for Bitcoin.

PlanB’s worst case scenario for the BTC price was $135K by the end of 2021, which was a far cry from the real $45,600 yearly close that BTC recorded last year.

In addition, recognized analyst Willy Woo also placed a year-end of $162K for BTC. Woo went so far as to say that a $200,000 price tag is still possible for the coin by the end of 2021. Woo also believed that BTC’s price would not fall below the $50,000 mark.

But more recently, after the crypto winter hit, Woo revised his prediction and said that the $30,000 level is the new $100K that the BTC price needs to see this year.

No more bear markets

In a 2021 interview on the What Bitcoin Did podcast, Woo further mentioned that after the 2021 bull cycle, there would be no bearish downturns in the cryptocurrency market. He stated that it would not be a full-fledged bear market and the BTC price will most likely continue to fluctuate.

However, BTC price has charted a pullback of over 70%, in fact the larger market seems to be gripped in the arms of bears as most of the top cryptocurrencies are double digits off their all-time highs.

Ether will surpass Bitcoin

In 2021, while both BTC and ETH hit new highs, the ETH price significantly outperformed Bitcoin. Through October and November 2021, BTC recorded close to 64% gains while ETH charted over 70% gains eclipsing Bitcoin’s gains at larger.

With the Ethereum merger planned for September 2022, the larger market expected ETH’s price to skyrocket and overshadow BTC’s price action once again. However, the same did not happen as ETH largely followed BTC’s footsteps.

At press time, both ETH and BTC had negative short-term and long-term returns. Ether’s annual ROI was -65.48%, while Bitcoin’s ROI was -68.30%.

USDC will overtake Tether as the largest stablecoin

USDC’s growth over the past year as the stablecoin’s market capitalization reached over $55 billion led many to believe that the coin would overtake USDT or Tether as the best stablecoin in the market.

At press time, however, USDT maintained its market monopoly as the third largest digital resource by market capitalization. USDT’s market cap was $68.43 billion while USDC’s was $44.99 billion.

Although USDC was right behind USDT in terms of market share, the stablecoin still came in second in the race.

Meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) were in the news throughout 2021, mostly due to retail euphoria or Elon Musk-driven rallies. Another market segment that received huge social interest was Metaverse tokens such as ApeCoin (APE) and Decentraland (MANA).

Metaverse tokens rose in price and popularity towards the end of 2021, while meme coins such as DOGE and SHIB led market gains in Q3 2021. However, both meme tokens and metaverse coins lost their charm this year as market participants sought to invest in peak assets .

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here

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